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Immutable X Network was originally known as Fuel Games, which was a game studio in Australia. This studio later worked with StarkWare to create a solution to reduce the costs of the Ethereum network, which resulted in the creation of the Immutable X network. Features of the Immutable X protocol include the following.
Scalability and Security The IMX platform in partnership with Starkware enhances the security and scalability of the Ethereum network. The platform performs a number of off-chain transactions by users volunteering for the transaction confirmation process. This process is done in a parallel network with Ethereum and only transaction information is recorded and confirmed in the main network. Therefore, with the help of IMX, the transaction cost is greatly reduced.
Dedicated Liquidity Creation and Order Book The Immutable X protocol provides a shared order book to improve liquidity, allowing users to create orders in one market and fill them in another. This process expands the scope of traders’ activities and affects the determination of the real price of assets. It also facilitates the process of making NFT markets.
Enabling the issuance of NFTs, the Immutable X protocol allows users to create their own immutable tokens at zero cost, using the platform as a secure means of building and mass-distributing NFT collections.
This platform uses zk-rollup technology to achieve scalability. This technology collects several transactions in a large batch and creates a proof for that batch. This proof is then placed on the Ethereum mainnet. Zk-rollup is one of the most effective scaling technologies in Ethereum because blocks are validated faster and transactions transfer from layer 2 to layer 1 is easy.
The IMX token is the exclusive digital currency of the Immutable X protocol, which was created on the Ethereum platform. This token is used for governance decisions, payment of protocol fees and staking. Currently, about 793 million IMX tokens have been released and the rest will be released by 2026. The distribution of these tokens is as follows:
The Immutable X protocol has been able to attract the attention of large collections and projects in this field. Even the top blockchain games are trying to launch their own market on this platform to benefit from its features. Since the beginning of this project, the attention of private investors has been drawn to it. This network has managed to attract many users to use its platform, to the point that in 2022, the amount of NFTs was multiplied by 600 million dollars on this platform. Therefore, due to the attractive investment and the growing ecosystem of this network, we can hope for its future.
